AHMEDABAD (Commodity Online): Spices, except red chilli, have remained weak as demand has vanished from the markets. The same trend is likely to continue during the week. However active buying by the stockiest and millers may however support the prices in the coming weeks.
Firm trend continued for red chilli prices as good demand in the markets kept the rates up. As per trade sources, chilli arrivals are expected to decline in the coming days and stocks kept in cold storages will contribute to the major chunk in consumption.
According to traders, cold storage stocks are around 45 lakh bags against 50-55 lakh bags last year, which might support prices in near term. Arrivals are expected to decrease in near future and favor chilli prices to remain sideways to firm, in the range of Rs 8450 – Rs 7600 per quintal for coming days.
Jeera prices remained weak in major markets of the country as reports of satisfactory advancement of monsoon kept pressurizing the prices. The rates failed to sustain higher levels as moderate arrivals amidst weak demand pressurized the market sentiments for the commodity.
Jeera arrivals are expected to increase in near future and cause prices to remain steady to weak, in the price range of Rs 13200 – Rs 14400 per quintal in near term.
Extracted from Commodity Online Agri Service
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